Triangle

Ticketmaster will acquire Durham app developer Two Toasters for an undisclosed amount. Two Toasters has developed apps for brands including Regal Cinemas, Lexus and Dick's Sporting Goods. Following the sale, the company will work exclusively on Ticketmaster projects.

An audit of the state Department of Health and Human Services showed significant errors and deficiencies in its oversight of state programs, including errors in 24% of 272 claims sampled that resulted in $464,942 in overpayment.

Novan Therapeutics completed a $39.7 million round of financing, bringing the total amount raised since August to $50 million. The Durham-based company, which is developing a treatment for acne, has raised $70 million since 2008.

The number of high-end apartment units within a mile of downtown Raleigh will double to nearly 3,000 over the next two years, and downtown Durham's population is expected to double following construction of new apartments there.

Rex Healthcare has named Steve Burriss president, effective April 1. Burriss, 48, has served as chief operating officer of the Raleigh-based health system since 2012 and was named interim president in January when David Strong announced he was leaving to take a job in Florida. Rex employs 5,600 people at its 660-bed Raleigh hospital.Rex was ranked No. 1 on Business North Carolina's 2015 list of Top Hospitals in the state. Click here to view the full list.

Raleigh-based Red Hat reported fourth-quarter revenue of $463.9 million, beating analysts' projections of $456.4 million. Revenue for the full year increased 17% to $1.79 billion. The software company also announced that its board of directors approved a stock buyback of up to $500 million.

Campbell University broke ground Wednesday on a $22 million building that will house the Catherine W. Wood School of Nursing, which already has 110 students enrolled in pre-nursing seminars. The new building also will include space for physical therapy, occupational therapy and medical research programs. The Buies Creek university has established six health-care degree programs in the last five years.

Dude Solutions is acquiring Toronto-based Windmill Software for an undisclosed amount. Windmill offers a software product that adds support for functions at senior-living centers. The Cary-based software firm, which received a $100 million private-equity investment last year, also has another deal in the works, CEO Kent Hudson said.

Raleigh-Durham International Airport ranked 40th out of 50 major airports in a report on performance of wireless Internet and phone service. Research firm Root Metric tested upload and download speeds, Internet browsing and other data to compile the rankings. Charlotte Douglas International ranked 23rd.

Three workers were killed and another was injured Monday when a scaffolding platform fell to the ground at a construction site in Raleigh. Raleigh-based Dominion Builders is developing the 11-story Charter Square building on Fayetteville Street.

GlaxoSmithKline will lay off 180 workers in its commercial business division at Research Triangle Park. The United Kingdom-based pharmaceutical company said in December it was cutting about 900 jobs in research and development, but about half of those workers shifted to jobs at at new business unit GSK formed with Paraxel. GSK employs more than 5,000 in North Carolina.

Biogen reported promising results of an Alzheimer's treatment it is developing. The Massachusetts-based biotech company, which has a manufacturing site in RTP, said Friday that its investigational drug successfully slowed cognitive decline in patients with the progressive neurological disease. The company also shortened its name from Biogen Idec effective Monday.

In a realignment of its top management officials, Beijing-based Lenovo named Gianfranco Lanci, former CEO of Acer, to the newly created position of president. Morrisville-based Jay Parker, president of North American operations, will become senior vice president of the computer-maker's enterprise business and will move to RTP.

Mechanics and Farmers Bank continued its profitable streak, reporting net income of $810,000 for 2014, up from $126,000 in 2013. The Durham-based bank has recorded a profit every year since it opened in 1908 ("Rewriting History," October 2014).

The former top executives of Raleigh-based Salix Pharmaceuticals will receive $46 million after the company is sold to Canada-based Valeant Pharmeceuticals. Adam Derbyshire, who resigned as CFO in November, will get $13.3 million in stock and options while former CEO Carolyn Logan will walk away with $32.7 million in stock.

Gemstone manufacturer Charles & Colvard named Marvin Beasley CEO. He replaces Randy McCullough, who announced his retirement this week. Beasley, 71, was CEO of Helzberg Diamonds from 2004 through 2009 and has been a director at Charles & Colvard for the last five years. The Morrisville-based company reported a net loss of $13.1 million for 2014.

Cary-based convenience-store chain The Pantry announced it will lay off 250 workers in Cary and Sanford – about half of its workforce in the two Triangle cities – as a result of the company's merger with Canada-based Alimentation Couche-Tard, which was completed Monday.

Endo International withdrew its bid for Raleigh-based Salix Pharmaceuticals on Monday after Valeant Pharmaceuticals raised its bid from $158 per share to $173 per share. Including debt, the revised deal is valued at $15.8 billion and is expected to close April 1.